Grocery Outlet Holding Corp. (NASDAQ:GO) Receives $18.00 Average PT from Brokerages

Grocery Outlet Holding Corp. (NASDAQ:GO) has earned an average rating of “Hold” from the twelve brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $18.00.

A number of brokerages have issued reports on GO. Melius Research initiated coverage on Grocery Outlet in a research note on Monday, September 23rd. They issued a “hold” rating and a $17.00 price target on the stock. Loop Capital initiated coverage on Grocery Outlet in a research note on Thursday, October 17th. They issued a “hold” rating and a $17.00 price objective on the stock. Bank of America lowered Grocery Outlet from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $29.00 to $17.00 in a research note on Wednesday, October 30th. Roth Mkm reduced their price target on Grocery Outlet from $20.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 6th. Finally, UBS Group decreased their price target on Grocery Outlet from $21.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, November 6th.

Insider Activity

In other Grocery Outlet news, Director Eric J. Jr. Lindberg sold 200,095 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $16.29, for a total value of $3,259,547.55. Following the sale, the director now directly owns 70,938 shares of the company’s stock, valued at $1,155,580.02. This trade represents a 73.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Erik D. Ragatz bought 110,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was bought at an average cost of $18.25 per share, for a total transaction of $2,007,500.00. Following the completion of the transaction, the director now directly owns 539,785 shares of the company’s stock, valued at $9,851,076.25. This trade represents a 25.59 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in Grocery Outlet by 0.7% during the first quarter. Vanguard Group Inc. now owns 9,333,850 shares of the company’s stock valued at $268,628,000 after buying an additional 60,830 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Grocery Outlet by 22.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,613,617 shares of the company’s stock valued at $79,933,000 after purchasing an additional 655,065 shares during the period. Capital World Investors boosted its position in shares of Grocery Outlet by 281.4% in the 1st quarter. Capital World Investors now owns 3,579,683 shares of the company’s stock valued at $103,023,000 after purchasing an additional 2,641,016 shares during the period. Van Berkom & Associates Inc. boosted its position in shares of Grocery Outlet by 21.1% in the 2nd quarter. Van Berkom & Associates Inc. now owns 3,498,533 shares of the company’s stock valued at $77,388,000 after purchasing an additional 609,871 shares during the period. Finally, State Street Corp boosted its position in shares of Grocery Outlet by 0.6% in the 3rd quarter. State Street Corp now owns 3,407,152 shares of the company’s stock valued at $59,796,000 after purchasing an additional 21,237 shares during the period. Institutional investors own 99.87% of the company’s stock.

Grocery Outlet Trading Up 1.1 %

Grocery Outlet stock opened at $18.65 on Tuesday. The stock has a market cap of $1.81 billion, a PE ratio of 36.57, a P/E/G ratio of 4.65 and a beta of 0.13. The stock has a 50-day moving average price of $16.76 and a 200 day moving average price of $19.15. Grocery Outlet has a 52 week low of $13.60 and a 52 week high of $29.80. The company has a current ratio of 1.46, a quick ratio of 0.33 and a debt-to-equity ratio of 0.34.

Grocery Outlet (NASDAQ:GO) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Grocery Outlet had a return on equity of 5.25% and a net margin of 1.20%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter last year, the business posted $0.25 EPS. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year. Equities research analysts predict that Grocery Outlet will post 0.63 earnings per share for the current fiscal year.

About Grocery Outlet

Grocery Outlet Holding Corp. operates as a retailer of consumables and fresh products sold through independently operated stores in the United States. Its stores offer products in various categories, such as dairy and deli, produce, floral, fresh meat, seafood products, grocery, general merchandise, health and beauty care, frozen food, beer and wine, and ethnic products.